Spero Therapeutics (NASDAQ:SPRO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, Zacks.com reports. The brokerage presently has a $12.00 target price on the stock. Zacks Investment Research‘s target price indicates a potential downside of 1.23% from the company’s current price.

According to Zacks, “Spero Therapeutics Inc. is a multi-asset, clinical-stage biopharmaceutical company. It focused on identifying, developing and commercializing novel treatments for multi-drug resistant bacterial infections. Spero Therapeutics Inc. is based in CAMBRIDGE, United States. “

Several other equities analysts also recently weighed in on the company. Janney Montgomery Scott initiated coverage on Spero Therapeutics in a research report on Monday. They set a “buy” rating on the stock. TheStreet downgraded shares of Spero Therapeutics from a “c-” rating to a “d+” rating in a research report on Monday, July 29th. ValuEngine downgraded Spero Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $28.00 price target on shares of Spero Therapeutics in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $21.20.

Shares of SPRO stock traded up $0.40 during midday trading on Wednesday, reaching $12.15. 834 shares of the stock were exchanged, compared to its average volume of 28,252. Spero Therapeutics has a 1 year low of $5.52 and a 1 year high of $14.48. The company’s 50 day moving average is $9.93 and its two-hundred day moving average is $11.46. The firm has a market cap of $207.08 million, a PE ratio of -4.67 and a beta of 2.08. The company has a current ratio of 13.66, a quick ratio of 13.66 and a debt-to-equity ratio of 0.04.

Spero Therapeutics (NASDAQ:SPRO) last announced its earnings results on Thursday, August 8th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by ($0.10). Spero Therapeutics had a negative return on equity of 33.84% and a negative net margin of 321.37%. The firm had revenue of $2.16 million during the quarter, compared to analysts’ expectations of $6.95 million. As a group, equities analysts expect that Spero Therapeutics will post -2.9 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP lifted its position in Spero Therapeutics by 475.8% in the second quarter. Marshall Wace LLP now owns 17,699 shares of the company’s stock valued at $204,000 after acquiring an additional 14,625 shares during the last quarter. Novo Holdings A S purchased a new position in Spero Therapeutics during the second quarter worth approximately $5,363,000. Vanguard Group Inc. grew its position in Spero Therapeutics by 4.5% during the second quarter. Vanguard Group Inc. now owns 437,204 shares of the company’s stock valued at $5,032,000 after acquiring an additional 18,814 shares during the period. BlackRock Inc. increased its position in Spero Therapeutics by 56.0% during the 2nd quarter. BlackRock Inc. now owns 656,778 shares of the company’s stock worth $7,559,000 after purchasing an additional 235,691 shares in the last quarter. Finally, D.A. Davidson & CO. acquired a new stake in Spero Therapeutics during the 2nd quarter worth approximately $115,000. Hedge funds and other institutional investors own 50.97% of the company’s stock.

About Spero Therapeutics

Spero Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on identifying, developing, and commercializing novel treatments for multi-drug resistant (MDR) bacterial infections in the United States. Its product candidate includes SPR994, an oral carbapenem-class antibiotic to treat MDR gram-negative infections for adults; SPR741, which is in Phase Ib clinical trial to treat MDR gram-negative infections in the hospital setting; SPR206, an agent that is phase I clinical trial to disrupt the outer membrane of gram-negative bacteria; and SPR720, an oral antibiotic, which is in phase I clinical trial for the treatment of pulmonary non-tuberculous mycobacterial infections.

See Also: Hedge Funds

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